Man by food truck who has just started a business

Starting A Business?

Good businesses start with an idea that skilfully and efficiently connects supply with demand. But while every business needs one, even the best idea will not, on its own, develop a healthy and regular turnover.

That...

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PROJECT MANAGEMENT IN CHANGING TIMES

By Rhys Madoc, CEO, UHY International

The changing nature of work, fuelled by advancing technology, globalisation and worldwide lockdowns, means that good project management is more important than ever. As the number of business teams working...

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2022-23 Federal Budget Summary (Highlights)

Federal Budget Insights 2022-23
Another annual budget has been handed down by Treasurer Josh Frydenberg.

Limited measures on income tax related matters appeared this time round. Though, that is hardly surprising when a federal election is just...

Collabaration Works

Collaboration Works

But What Does Collaboration Mean In Practice?
Naturally, clients expect the best possible service from providers like UHY member firms. An important way we meet that expectation is through seamless and instinctive collaboration, within our teams,...

Accountant Brisbane Governance for Companies

Dynamic Changes to Governance Outcomes

Environmental, Social and Governance (ESG)
Environmental, Social and Governance are taking over from Corporate Social Responsibility (CSR) as a way for businesses to demonstrate a measurable commitment to sustainability.

ESG covers environmental impact, company culture and leadership,...

Could tax debt impact your credit rating?

Could Tax Debt Impact Your Credit Rating?

Have you received communication from the ATO over your business tax debt?
Under powers granted in 2019 (see  Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019), the ATO may now disclose business...

Federal government SME Business Loans

SME Business Loans & Recovery Loan Scheme [Updated]

The Australian federal government has recently announced further coronavirus relief options for small and medium-sized business and non-profit bodies, collectively known as SME entities (SMEs). This includes a relaxing of the eligibility for these entities...

SMSF TRUSTEE

SMSF Trustee – What are the options?

Thinking about setting up a self-managed super fund?
When establishing a self-managed superannuation fund (SMSF) a decision must be made as to what trustee type to use.  There are two options, appoint

a company; or
individuals

Sometimes,...

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Queensland Government – Small Business Boost Grant

 

The QLD Government has announced details of a new grant for established small businesses: the Business Boost Grant.   This grant is intended to assist businesses advance improvements in:

Future planning,
Specialised and automated software, and...

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Recovery Drivers of Ecconomies

The global economy is waking from its Covid slumber, but what will drive recovery? We suggest three post-pandemic drivers of growth
According to the Organisation for Economic Cooperation and Development (OECD), many national economies will recover...

Agile Business blog

A New World of Agile Business

 
Sticking plaster solutions adopted in 2020 are morphing into new ways of working that will outlast the pandemic. UHY Experts discuss the ways business has been changed forever by Covid-19.
In January the chief executive of...

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Going Global – the Right Way

 

International ambition makes sense post-covid, but make sure you are fully prepared to meet the challenges ahead

Albert Einstein’s assertion that “in the midst of every crisis lies great opportunity” is perhaps a crumb of comfort...

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ATO Held Super – Returning it to Owners

It’s possible the Australian Tax Office (ATO) may be holding some of your super that you or your primary superannuation fund may benefit from. At present the ATO is actively trying to return this money...

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Changes to STP Reporting from 1 July

Single Touch Payroll (STP) Changes from 1 July 2021
STP changes lie ahead for micro employers and small employers with closely held payees. The ATO has announced the following changes from 1 July 2021:

Micro Employers (four...

SME Confidence Increases in 2021

SME Confidence Increases in 2021

Sentiment for 2021 is on the rise as businesses share their thoughts on the road ahead.
According to the last 2020 report of the NAB Business Survey, Australian business owners have increased confidence heading into 2021....

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ABR updates – Director Identification Number

 

ABR updates – Director Identification Number

As part of the Modernising Business Registers (MBR) program, the Australian Business Register (ABR), along with 31 registers administered by ASIC, will be unified into a single system. Management of...

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Personal Superannuation Contributions

Would you like a tax deduction with that?
Historically

In years gone by, to be eligible to make personal deductible contributions less than 10% of your assessable income had to come from employment activities, which was not...

Asset Protection Checklist

Asset Protection Checklist

Asset Protection Checklist.

Unsettling times can raise concerns about the security of your wealth. Protecting your assets certainly can bring peace of mind – and save your assets when circumstances are less favourable. Knowing what to...

Federal Budget 20-21

2020-21 Federal Budget Summary

 

JOBS, JOBS JOBS! That was the resounding theme of the 2020-21 Federal Budget. Closely followed by Spend, Spend, Spend.

Treasurer Josh Frydenberg delivered a budget where the key measures were aimed at small and medium enterprises...

Your UHY CFO Bookeeping

Your UHY CFO – Bookkeeping

When you think about your business financials and your position isn’t crystal clear or seems foggy, it’s probably because your bookkeeping systems could be improved.

We say it a lot, but there are so many more...

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Monitor and Forecast Your Cashflow

Without good cashflow management, most businesses are likely to run into problems before long. Whether you’re navigating lean market conditions or implementing expansion, being profitable on paper isn’t enough if you don’t have healthy cashflow....

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Industry Report 2020 – Construction

While COVID-19 has put many jobs and businesses under threat, the construction industry has kept of working. However, the sector is usually slow to respond to shocks in the global economy, and this has been...

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Managing Conflicts of Interest

 

The charity and not-for-profit sector is a close-knit community and this can unintentionally give rise to conflicts of interest as trustees accept multiple appointments or inadvertently mix their charitable work with their business interests. But...

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Smaller Super Balance = Extra Tax Deduction?

In the 2016 budget the government announced their plans to allow people to carry forward their unused concessional contribution cap and make catch up concessional contributions. We are now in the first year these contributions...

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Working From Home & COVID-19

 

While social distancing measures are in place, many people are working from home – and this could continue for some time yet.

Don’t forget – home office expenses can be claimed as a tax deduction.

What expenses...

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New Land Tax Relief Queensland

 

The Queensland Government has announced land tax relief, still to be legislated, that includes;

a land tax rebate reducing land tax liabilities by 25% for eligible properties for the 2019-20 assessment year
a waiver of the 2% land tax...

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Succession Planning for Your Goals

 
It’s not about who gets what with succession planning
Contrary to common misconception, succession plans are not really about who gets what when you quit, retire or die. While you may be facing some immediate challenges because of...

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Disaster Scenario Planning

 

With much of the unfolding events related to COVID-19, have you considered how your business would fare in a ‘worst case’ scenario? That’s an uncomfortable thought that many would rather avoid – especially when you...

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Government Relief for COVID-19: Top Links

 

With the rapidly evolving changes due to COVID-19 virus containment measures, it’s wise that business owners and workers stay up-to-date with what relief and support are available to them.

In addition to emails and updates, we...

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Federal Government Coronavirus Relief Package

 

In case you missed it, the federal government has announced a relief package for individuals and businesses in response to the coronavirus. The proposed package includes;

 

BOOSTING CASH FLOW FOR EMPLOYERS

The Boosting Cash Flow for...

Solidifying Your Entry into the Australian Market

 

Australia is a unique and highly affluent market that appeals to multinational and international business for a myriad of reasons. Prosperous, conflict-free and open to new ideas and products, the Australian consumer largely spends on...

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Ethical Investments – Charities and NFPs

 
Aligning your investment strategy with your supporters’ ethics
With increasing competition for finite resources charities need to ensure that their donors are comfortable with the way that reserves are invested. But not all donors share the...

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Death Benefits – Know Them!

When it comes to saying goodbye to loved ones, the last thing you want to be doing is catching-up your knowledge on financial and legal obligations. Having a basic understanding of how a superfund is...

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Navigating People in the Workplace: The Creative

Do you lead a team of creatives or work with them? Be it web designers, digital media production teams, online marketers, software engineers, writers, musicians, visual artists, actors, dancers or a full production team of diverse...

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Black Economy 2020 Update

The ATO continues visiting small businesses around Australia to crack down on black economy activities.  Tasmania was the target during October and November where the ATO visited around 300 small businesses in Hobart following tip-offs...